Federal Home Loan Mortgage Corporation (FHLMC)

Federal Home Loan Mortgage Corporation (FHLMC) Definition

A private corporation chartered by Congress in 1970 to make funds from the capital markets available for home financing. It does this by operating a secondary market for home mortgage loans, buying such mortgages from original lenders and selling securities in the capital markets backed by those mortgages. It is popularly known as Freddie Mac.